Sustainability linked loans are designed to incentivise borrowers, like Downer, to deliver on commitments to sustainability and to support sustainable economic activity and growth.
Our new facility is underpinned by KPIs linked to Downer’s greenhouse gas emissions reductions as well as social sustainability metrics relating to cultural awareness and mental health and wellbeing training for our people. If these KPIs are satisfied, Downer’s borrowing costs will be reduced.
These sustainability KPIs are unique to Downer and reflect our continued commitment to strong sustainability performance and investment in our people.
“The sustainability features of the new facility are a welcome validation of Downer’s ongoing commitment to a market-leading sustainability strategy,” said Ricky Bridge, Group General Manager Sustainability, Reporting and Data Analytics.
“Having the loan facility outcomes linked to the development of our workforce and our decarbonisation commitments is an important step for Downer.”
The refinancing is the final step in the consolidation of Downer’s debt platforms after we achieved 100 per cent ownership of Spotless in October.
“I would like to thank Paul Macfarlane and the Treasury team, as well as Ricky and his team, for their many hours of hard work to achieve this excellent outcome,” Downer Chief Financial Officer, Michael Ferguson, said.
The Australian Government has commenced rolling out its COVID-19 national vaccination strategy.
Downer reported our financial results for the six months to 31 December 2020 on 11 February.
Downer’s Urban Services strategy aims to create a stronger platform for long-term, sustainable growth by focusing on capital light, lower risk services that deliver more predictable revenues, earnings and cash flows.